1) clarification that if you don’t index subsistence for average income, then you create poverty
2) clarification that minimum ‘income’ is not an ‘income’ but a mechanism (with multiplier)
3) the concept of the Tax Void
4) the dynamic marginal tax rate, and its relation to labour supply and macro-economics
5) these explanations for the shift of the Phillipscurve:
a) by the minimum wage and tax void, or poverty
i) directly, and caused by differential indexation of exemption and subsistence
ii) indirectly, by the crowding out effect, shifting of the tax burden etc.
b) by misguided macro-economic policy (not understanding taxes, fighting inflation with the wrong means)
6) clarification that ‘there is no poverty trap’